Volunteers to help pack food parcels in Dubai on Monday for earthquake victims

Crowds of volunteers are expected to come together for charity on Monday as help is needed to pack food parcels for earthquake victims in Syria and Turkey.

It is the latest relief effort of the UAE's Bridges of Giving campaign run by Mohammed bin Rashid Al Maktoum Initiatives, which works with Emirates Red Crescent to get aid to those most in need.

The event is being held at Dubai World Trade Centre on March 13 between 9am and 6pm.

In February, members of the public were happy to give up their spare time to help box up essential supplies bound for both nations, at a Bridges of Giving event held at Dubai Exhibition Centre at Expo City Dubai.

Vital goods such as dry food and warm bedding were packed into boxes.

The Emirates Red Crescent gift boxes also included poignant letters of support written by children.

The death toll from the devastating natural disaster has surpassed 50,000.

Millions more people have been affected after the earthquake — and subsequent aftershocks — flattened thousands of buildings.

The UAE has joined the international community in coming to the aid of both countries.

Ten Syrian earthquake survivors arrived in Abu Dhabi to receive crucial medical treatment. The patients were transported on a special evacuation flight which included doctors, anaesthesiologists, technicians and paramedics along with the latest medical equipment.

The mission was carried out by Emirates Red Crescent in partnership with the Syrian Ministry of Health, under the directive of Sheikha Fatima, Mother of the Nation.

Five adult patients were taken to Sheikh Shakhbout Medical City, while children aged nine, 10, 12, 14 and 16 were transferred to Sheikh Khalifa Medical City.

The UAE has offered Syria a fleet of 10 new ambulances as part of Operation Gallant Knight 2, the UAE's humanitarian mission to help the quake-hit country.

The move was approved by the Joint Operations Command of the Ministry of Defence, in co-ordination with the Ministry of Health and Prevention and the Emirates Red Crescent.

Earlier in February, thousands of volunteers offered a helping hand in packing aid for those affected by the deadly quake at events held at Abu Dhabi National Exhibition Centre and Expo City Dubai’s exhibition centre.

The UAE has delivered more than 3,000 tonnes of aid on more than 100 flights.

Earthquake aid collection at Expo City Dubai: in pictures

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri

Rating: 1/5

UAE jiu-jitsu squad

Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)

Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

The specs: Rolls-Royce Cullinan

Price, base: Dh1 million (estimate)

Engine: 6.75-litre twin-turbo V12

Transmission: Eight-speed automatic

Power: 563hp @ 5,000rpm

Torque: 850Nm @ 1,600rpm

Fuel economy, combined: 15L / 100km

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All you need to know about Formula E in Saudi Arabia

What The Saudia Ad Diriyah E-Prix

When Saturday

Where Diriyah in Saudi Arabia

What time Qualifying takes place from 11.50am UAE time through until the Super Pole session, which is due to end at 12.55pm. The race, which will last for 45 minutes, starts at 4.05pm.

Who is competing There are 22 drivers, from 11 teams, on the grid, with each vehicle run solely on electronic power.

Brief scores:

Manchester United 4

Young 13', Mata 28', Lukaku 42', Rashford 82'

Fulham 1

Kamara 67' (pen),

Red card: Anguissa (68')

Man of the match: Juan Mata (Man Utd)

Nancy 9 (Hassa Beek)

Nancy Ajram

(In2Musica)

Mica

Director: Ismael Ferroukhi

Stars: Zakaria Inan, Sabrina Ouazani

3 stars

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